Case Studies

PROJECT OVERVIEW Stanley Black & Decker is a Fortune 500 American manufacturer of industrial tools and household hardware and provider of security products and locks. Stanley Black & Decker was faced with immediate real estate needs based upon a restacking and repurposing of their corporate campus and their pending growth (need to hire 500 additional employees). CHALLENGE The geographic location that Stanley Black & Decker was interested in had a low vacancy and limited large vacancy options. Approximately 500 were needed to hire within 6–9 months. Furthermore, their employees needed different building types (flex, manufacturing, and multi-story office.) • Renegotiation of existing lease at Mylander Lane which provided $500,000 in tenant improvements in exchange for longer lease term. • Identification of underutilized space in Towson Commons which resulted in a 2 year 50,000 SF sublease to accommodate more immediate occupancy needs. • The identification of lease/purchase/build-to-suit sites in Baltimore County for a 70-90,000 SF office requirement. Stanley Black & Decker selected an under construction building at Crossroads in White Marsh. We were able to leverage submarkets against one another to achieve highly favorable economic terms, a very generous allowance, build-to-suit expansion, contraction and termination rights at Greenleigh at Crossroads. Total lease value of $24,000,000. SOLUTION Over the past 3 years, the local Cushman & Wakefield office has accomplished the following:

CLIENT Stanley Black & Decker

SQUARE FOOTAGE

50,000 SF

LOCATION

White Marsh, MD

SERVICES

Transaction Management Strategic Advisory

CLIENT RESPONSE

There was considerable corporate pressure to identify numerous options in different product types. Cushman & Wakefield was highly responsive and identified “off market” options and negotiated lease terms providing excellent results.